"Technically there has been no sign that the BEI index would gain," analyst Reza Priyambada said.Jakarta (ANTARA News) - The Indonesian benchmark stock index fell 31.55 points when the Indonesian Stock Exchange (BEI) opened trading on Wednesday morning
The BEI index lost 31.55 points or 0.68 percent to 4,578.40 points with the index of 45 most liquid stocks down 7.96 points or 1.05 percent to the level of 749.32.
"Technically there has been no sign that the BEI index would gain," chief researcher of Trust Securities, Reza Priyambada said.
The global macro economic condition remained in the negative condition that selling pressure continues, Reza said here on Wednesday.
However, the selling pressure is expected to ease that the BEI index would stop from sinking lower, he said.
Samuel Sekuritas` analyst Adrianus Bias predicted the BEI index would fluctuate on Wednesday and tended to strengthen with potential increase in the prices of the property, construction, consumer and cement stocks after significant fall earlier.
In addition, the decision of the central bank raising the deposit facility interest rate on Tuesday night gave positive sentiment to the rupiah value that would have its impact on the movements of the BEI index, Adrianus said.
The central bank raised the deposit facility interest rate from 4 percent to 4.25 percent on Tuesday night.
Regional markets such as Hang Seng suffered a 1.20 percent fall in index to 21,354.66 points, the index of Nikkei-225 also dropped 1.82 percent to 13,075.86 points and that of Straits Times fell 0.47 percent to 3,198.41 points.(*)
Editor: Heru Purwanto
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